Review of the Master of Business Administration (M.B.A.) 52.0201 Overview of the program. The Master of Business Administration (M.B.A.) program within the College of Business is an interdisciplinary graduate business degree program that prepares students for successful careers in positions of leadership in business and other organizations. The program offers both an on-campus traditional weekday program and an off-campus cohort-based weekend program. The program draws its courses and faculty from the four departments within the college (Accounting; Finance, Insurance, and Law; Management and Quantitative Methods; and Marketing) and is managed by the Associate Dean for M.B.A. and Undergraduate Programs. The program has been consistently recognized for its quality, including designation as one of the ten “best administered M.B.A. programs” in The Best 296 Business Schools: 2013 Edition published by The Princeton Review. Description of the self-study process. While various data and information related to assessment and program review are collected on a continuous basis and discussed at the M.B.A. faculty meeting every fall, this eight-year program review began in earnest in summer 2009 with collection of data from outgoing and incoming students. The M.B.A. faculty council was also newly created to address and discuss M.B.A.-program-related issues. Throughout the program review process, the M.B.A. program has been in contact with various internal and external sources to secure relevant data and information. The M.B.A. program faculty in collaboration with M.B.A. program staff members compiled the program review data and prepared the self-study report during the spring and summer of 2012. Curriculum of the program. The curriculum of the M.B.A. program consists of foundation, core, and elective courses and is designed to provide students with general business-related knowledge and skills at the level of organizational leaders and managers. While pursuing the 36 credit hours of coursework required for graduation, students not only learn the content knowledge of course subjects but also develop abilities in business-related behavioral skills. The Corporate M.B.A. (CMBA) program is delivered off-campus, offering the same, fully- accredited curriculum as the on-campus M.B.A. program. Following the format and structure of a typical executive M.B.A. program, the CMBA program offers weekend classes taught by full-time M.B.A. faculty to groups of working professionals. The program also initiated an off-campus M.B.A. cohort in Chicago in February 2013. Faculty of the program or unit. Forty-eight faculty members from all four departments within the college have taught in the M.B.A. program over the last five years, and their average length of employment in the college is 17 years. The faculty represents diversity in academic, cultural, and ethnic backgrounds, as well as gender and age. Many faculty members also have industry experience, which helps maintain their teaching relevance. Goals and quality measures for the program. Benchmark categories and quality measures for the M.B.A. program include accreditation, survey rankings, incoming student grade point average, incoming student Graduate Management Admission Test (GMAT) scores, and performance by students in the program on the Educational Testing Service (ETS) Major Field Test for the M.B.A. The M.B.A. program at Illinois State University compares favorably with peer state institutions with regard to these measures. Budget planning process. While the budgeting process for the College of Business is centralized and departments in the college are allocated funds based on their share of faculty in the college, budgeting for the M.B.A. program is based on recurring needs of the program and on strategic planning. The program ties its budget planning to high- priority items among its strategic goals, such as curriculum development, support for graduate assistantships, and adequacy of instructional equipment and software. Description of any accreditation this program receives. The College of Business and all of its associated programs, including the M.B.A. program, are accredited by the Association to Advance Collegiate Schools of Business (AACSB) International. AACSB accreditation is recognized worldwide as the highest level of accreditation for M.B.A. programs. The M.B.A. program at Illinois State University has been accredited by AACSB since 1981. AACSB accreditation was reaffirmed in December 2011. 153 Summary and effectiveness of the student learning outcomes assessment plan. The M.B.A. program has developed a comprehensive assessment plan whereby student learning is evaluated through a set of carefully articulated rubrics. The plan identifies six learning goals that include obtaining the relevant content knowledge in a wide range of business functional areas and achieving the necessary depth and breadth in the development of analytical and behavioral skills. Student learning outcomes on these goals are systematically assessed in accordance with the established assessment plan cycle through tests, class projects, presentations, and assignments throughout the curriculum. The program faculty council meets regularly to review the assessment data and devise remedial changes and improvements to the program. Actions taken since the last program review including responses to recommendations for program improvement. The 2004-2005 program review recommended that the M.B.A. program continue plans to develop an executive M.B.A. program, continue efforts to improve diversity of the student body, and obtain additional resources to support graduate assistantships. Results have been achieved in all three areas. The Corporate M.B.A. (CMBA) program has been offered in conjunction with the McLean County Chamber of Commerce to three different cohorts. In early 2012, a new CMBA cohort was started without involvement of a third-party agent, improving the efficiency and productivity of the program. In 2012, the Illinois Board of Higher Education authorized Illinois State University to offer the M.B.A. program in Chicago. Instruction for the first Chicago cohort started in February 2013. Efforts to diversify the M.B.A. student body have succeeded in increasing the percentage of minority and international students to about 30 percent of all students in the program. This is an eight percent increase since 2004-2005. The program has used scholarships, assistantships, tuition waivers, and other financial aid opportunities to recruit qualified students from underrepresented groups. Maintaining and increasing the number of graduate assistantships is imperative for the program to continue to succeed in recruiting high-caliber students. While the number of assistantships has been stable since the last program review, the percentage of assistantship funding from sources other than general (state) revenue has increased from approximately seven percent to approximately 25 percent. Other significant actions taken by the M.B.A. program during the past eight years include adding a seminar in graduate business studies that provides the program flexibility to address new, important, and challenging business issues that do not necessarily fit existing courses; finalizing a dual-degree program with the University of Paderborn in Germany, through which students are able to receive M.B.A. degrees from both their home institution and the partner institution; and expanding networking and mentorship opportunities for students. Description and assessment of major changes in the program or discipline since the last program review. Today, colleges and universities throughout the world are offering numerous M.B.A. programs that are diverse in terms of content and delivery formats. Also, many companies and organizations increasingly have high-level internal training programs for their employees. All this translates into fierce competition in the M.B.A. industry. As a result, M.B.A. programs in recent years have been striving to develop their own niches and differentiating characteristics. Now available are programs focusing on specific content areas, programs with more integrated curricula, and programs offered during evenings, on weekends, and online. The trend is expected to continue. Demand for an M.B.A. degree and the employment outlook for M.B.A. graduates are slowly improving after a setback caused by the prolonged economic downturn in recent years. The M.B.A. program at Illinois State University has recently experienced fluctuations in the number of applicants, yet enrollment has been relatively stable. Demand from full-time and international students has increased, reflecting changing economic conditions. A noteworthy change in overall societal need for M.B.A. education is a shift from a traditional manufacturing- related business perspective to service, soft skills, technology, ethics, sustainability, and globalism. Description of major findings and recommendations as a result of this program review. Quality of the M.B.A. program at Illinois State has steadily increased during the review period as evidenced by student grade point averages; performance on admissions tests; program rankings and recognition; and feedback from students, alumni, and other external stakeholders. Adequate resources need to be continuously mobilized to enhance program quality and reputation. Program strengths include faculty, program content, class size, facilities, student opportunities, and cost competitiveness. The curriculum is balanced in its